<SEC-DOCUMENT>0001654954-25-009257.txt : 20250808
<SEC-HEADER>0001654954-25-009257.hdr.sgml : 20250808
<ACCEPTANCE-DATETIME>20250808101417
ACCESSION NUMBER:		0001654954-25-009257
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20250430
FILED AS OF DATE:		20250808
DATE AS OF CHANGE:		20250808

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Electrovaya Inc.
		CENTRAL INDEX KEY:			0001844450
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES [3690]
		ORGANIZATION NAME:           	04 Manufacturing
		EIN:				000000000
		STATE OF INCORPORATION:			A6
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-41726
		FILM NUMBER:		251196617

	BUSINESS ADDRESS:	
		STREET 1:		6688 KITIMAT ROAD
		CITY:			MISSISSAUGA
		STATE:			A6
		ZIP:			L5N 1P8
		BUSINESS PHONE:		905-855-4627

	MAIL ADDRESS:	
		STREET 1:		6688 KITIMAT ROAD
		CITY:			MISSISSAUGA
		STATE:			A6
		ZIP:			L5N 1P8
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>elva_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<html><head><title>elva_6k.htm</title><!--Document created using EDGARMaster--></head><body style="TEXT-ALIGN: justify; FONT: 10pt times new roman"><table style="font-size:1px;width:100%"> <tr > <td style="BORDER-BOTTOM: 5px solid;"></td></tr> <tr > <td style="BORDER-BOTTOM: 2px solid;"></td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong><font style="font-size:12pt">UNITED STATES</font></strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong><font style="font-size:12pt">SECURITIES AND EXCHANGE COMMISSION</font></strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong><font style="font-size:12pt">Washington, D.C. 20549</font></strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><font style="font-size:18pt"><strong>FORM&nbsp;6-K</strong></font></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>REPORT OF FOREIGN PRIVATE ISSUER</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>PURSUANT TO RULE&nbsp;13a-16&nbsp;OR&nbsp;15d-16</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>OF THE SECURITIES EXCHANGE ACT OF 1934</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>For the month of <u>April 2025</u></strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>Commission File Number:&nbsp;<u>001-41726</u></strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">&nbsp;</p> <table style="border-spacing:0;font-size:10pt;text-align:justify;margin-left:auto;margin-right:auto;width:60%" cellpadding="0"> <tr style="height:15px"> <td style="BORDER-BOTTOM: 1px solid;width:99%;"> <p style="MARGIN: 0px; text-align:center;"><font style="font-size:18pt"><strong>ELECTROVAYA INC.</strong></font></p></td></tr> <tr style="height:15px"> <td style="width:99%;"> <p style="MARGIN: 0px; text-align:center;"><strong>(Registrant)</strong></p></td></tr></table> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>6688 Kitimat Road</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>Mississauga, Ontario, Canada L5N 1P8</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>&nbsp;(Address of Principal Executive Offices)</strong>&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Indicate by check mark whether the Registrant files or will file annual reports under cover of Form&nbsp;20-F&nbsp;or Form&nbsp;40-F.</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">Form&nbsp;20-F&nbsp;&nbsp;&#9744;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form&nbsp;40-F&nbsp;&nbsp;&#9746;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Indicate by check mark if the Registrant is submitting the Form&nbsp;6-K&nbsp;in paper as permitted by Regulation&nbsp;S-T&nbsp;Rule 101(b)(1):&nbsp;&nbsp;&#9744;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Indicate by check mark if the Registrant is submitting the Form&nbsp;6-K&nbsp;in paper as permitted by Regulation&nbsp;S-T&nbsp;Rule 101(b)(7):&nbsp;&nbsp;&#9744;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <table style="font-size:1px;width:100%"> <tr > <td style="BORDER-BOTTOM: 2px solid;"></td></tr> <tr > <td style="BORDER-BOTTOM: 5px solid;"></td></tr></table> <table style="border-spacing:0;font:10pt times new roman;width:100%" cellpadding="0"> <tr style="height:15px"> <td class="hpbhr">&nbsp;</td></tr> <tr style="height:15px"> <td style="TEXT-INDENT: 0px;"></td></tr> <tr style="height:15px"> <td><p style='page-break-after: always'></p></td></tr> <tr style="height:15px"> <td>&nbsp;</td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong><u>SIGNATURES </u></strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <table style="border-spacing:0;font-size:10pt;width:100%" cellpadding="0"> <tr style="height:15px"> <td></td> <td colspan="3"> <p style="MARGIN: 0px; text-align:justify;"><strong>ELECTROVAYA INC.</strong></p></td></tr> <tr style="height:15px"> <td></td> <td colspan="3"> <p style="MARGIN: 0px; text-align:justify;">(Registrant)</p></td></tr> <tr style="height:15px"> <td style="width:50%;"></td> <td style="width:3%;"></td> <td style="width:35%;"></td> <td style="width:12%;"></td></tr> <tr style="height:15px"> <td> <p style="MARGIN: 0px; text-align:justify;">Date: April 30, 2025</p></td> <td> <p style="MARGIN: 0px; text-align:justify;">By</p></td> <td style="BORDER-BOTTOM: 1px solid;"> <p style="MARGIN: 0px; text-align:justify;">/s/ Raj Das Gupta</p></td> <td></td></tr> <tr style="height:15px"> <td></td> <td></td> <td> <p style="MARGIN: 0px; text-align:justify;">Raj Das Gupta</p></td> <td></td></tr> <tr style="height:15px"> <td></td> <td></td> <td> <p style="MARGIN: 0px; text-align:justify;">Chief Executive Officer</p></td> <td></td></tr></table> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <table style="border-spacing:0;font:10pt times new roman;width:100%" cellpadding="0"> <tr style="height:15px"> <td class="hpbhr">&nbsp;</td></tr> <tr style="height:15px"> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; TEXT-INDENT: 0px;">2</td></tr> <tr style="height:15px"> <td><p style='page-break-after: always'></p></td></tr> <tr style="height:15px"> <td>&nbsp;</td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong><u>EXHIBIT INDEX</u></strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <table style="border-spacing:0;font-size:10pt;width:100%" cellpadding="0"> <tr style="height:15px"> <td style="BORDER-BOTTOM: 1px solid;width:8%;vertical-align:bottom;"> <p style="margin:0px"><strong>Exhibit</strong></p></td> <td style="width:2%;"> <p style="margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;vertical-align:bottom;"> <p style="margin:0px"><strong>Description of Exhibit</strong></p></td></tr> <tr style="height:15px"> <td> <p style="margin:0px">&nbsp;</p></td> <td> <p style="margin:0px">&nbsp;</p></td> <td> <p style="margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#cceeff"> <td> <p style="margin:0px"><a href="elva_ex991.htm">Exhibit 99.1 </a></p></td> <td> <p style="margin:0px">&nbsp;</p></td> <td> <p style="margin:0px"><a href="elva_ex991.htm">Press Release</a></p></td></tr></table> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <table style="border-spacing:0;font:10pt times new roman;width:100%" cellpadding="0"> <tr style="height:15px"> <td class="hpbhr">&nbsp;</td></tr> <tr style="height:15px"> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; TEXT-INDENT: 0px;">3</td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p><body>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>elva_ex991.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<html><head><title>elva_ex991.htm</title><!--Document created using EDGARMaster--></head><body style="TEXT-ALIGN: justify; FONT: 10pt times new roman"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;"><strong>EXHIBIT 99.1</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>Electrovaya Receives the Make More in America Deal of the Year Award at Export-Import Bank of the United States' 2025 Annual Conference</strong></p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in"><strong>TORONTO, ON / </strong><strong>ACCESS Newswire</strong><strong> / April 30, 2025 / </strong>Electrovaya Inc. (NASDAQ:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, announces that it has received the Make More in America Deal of the Year Award today at the Export-Import Bank of the United States' (EXIM) 2025 Annual Conference in recognition of the company's demonstrated commitment to onshoring critical lithium ion battery manufacturing to the U.S.</p> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><img src="elva_ex991img2.jpg"></p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">With manufacturing in Jamestown, New York, Electrovaya is a dynamic business, specializing in the development and manufacturing of lithium-ion batteries for a variety of applications. In November 2024, the Board of Directors of EXIM approved a nearly $51 million direct loan to support the interior construction of a manufacturing facility and procure equipment for lithium-ion battery cell and module production lines that will aid in the company's increased production capacity. In addition to supporting an estimated 290 U.S. jobs, the transaction will also see the reshoring of a critical part of the production cycle from overseas competitors.</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">"EXIM remains committed to the expansion of domestic exports and rebuilding of a resilient stateside critical minerals supply chain," said Acting President and Chairman Jim Cruse. "The financing we were able to provide Electrovaya further underscores our dedication to supporting American businesses while enhancing U.S. manufacturing and reinforcing the country's economic security."</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">"EXIM's support has been instrumental in accelerating Electrovaya's growth in the U.S. and to support the company's domestic manufacturing plans. Through EXIM's support, Electrovaya will be reshoring considerable production from Asia," said Raj DasGupta, Chief Executive Officer of Electrovaya. "The company is witnessing significant interest for its U.S.-manufactured products and expects to quickly ramp up production. The financing support enables us to expand battery manufacturing, scale production, and bring our safe, long-lasting lithium-ion technology to more customers." The expansion of the manufacturing facility will allow Electrovaya to produce battery cells and modules which are currently produced in China, and therefore also falls under EXIM's China and Transformational Exports Program.</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <table style="border-spacing:0;font:10pt times new roman;width:100%" cellpadding="0"> <tr style="height:15px"> <td class="hpbhr">&nbsp;</td></tr> <tr style="height:15px"> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; TEXT-INDENT: 0px;">1</td></tr> <tr style="height:15px"> <td><p style='page-break-after: always'></p></td></tr> <tr style="height:15px"> <td>&nbsp;</td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in"><strong>About EXIM</strong></p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">The Export-Import Bank of the United States (EXIM) is the nation's official export credit agency with the mission of supporting American jobs by facilitating U.S. exports. To advance American competitiveness and assist U.S. businesses as they compete for global sales, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. As an independent federal agency, EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States. Learn more at <strong>www.exim.gov</strong>.</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in"><strong>Investor and Media Contact</strong>:</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Jason Roy</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">VP, Corporate Development and Investor Relations</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">Electrovaya Inc.</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">jroy@electrovaya.com</a> / 905-855-4618</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in"><strong>About Electrovaya Inc.</strong></p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Electrovaya Inc. (NASDAQ:ELVA)(TSX:ELVA) is a pioneering leader in the global energy transformation, focused on contributing to the prevention of climate change by supplying safe and long-lasting lithium-ion batteries. The Company has extensive IP and designs, develops and manufactures proprietary lithium-ion batteries and battery systems for energy storage and heavy duty electric vehicles based on its Infinity Battery Technology Platform. This technology offers enhanced safety and industry leading battery longevity. The Company is also developing next generation solid state battery technology at its Labs division. Headquartered in Ontario, Canada, Electrovaya has two operating sites in Canada and has acquired a 52-acre site with a 135,000 square foot manufacturing facility in New York state for its planned gigafactory. To learn more about Electrovaya, please explore <u><strong>www.electrovaya.com</strong>.</u></p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in"><strong>SOURCE: </strong>Electrovaya, Inc.</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <table style="border-spacing:0;font:10pt times new roman;width:100%" cellpadding="0"> <tr style="height:15px"> <td class="hpbhr">&nbsp;</td></tr> <tr style="height:15px"> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; TEXT-INDENT: 0px;">2</td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p><body>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>elva_ex991img2.jpg
<TEXT>
begin 644 elva_ex991img2.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  4$! 0$ P4$! 0&!04&" T(" <'
M"! +# D-$Q 4$Q(0$A(4%QT9%!8<%A(2&B,:'!X?(2$A%!DD)R0@)AT@(2#_
MVP!# 04&!@@'" \(" \@%1(5(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @("#_P  1"  G .H# 2(  A$! Q$!_\0
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MZ=*7=$8,KA]V"21R<<Y->H?&CX1ZUXP^'WA;Q!X?L7GUK2=-BM[FRVXEEBV
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MFE8^K/VB/^3??$O^[!_Z/CKYT_99\-Z'X@\;ZS)K6EVVH_8[)9(%N8Q(J,7
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K/5PN.KX>C*%-VOUZ_>>Y(@10JT;$_NK^5%%>GRH\N[%\M/[HIU%%6(__V0$!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
